It also seeks to make use of Egypt’s advanced gas infrastructure, particularly its natural gas liquefaction plants and re-export facilities, while studying the potential connection to Cypriot gas discoveries.
Egypt’s Ministry of Petroleum and Mineral Resources has signed a memorandum of understanding with ExxonMobil and QatarEnergy to cooperate on maximizing the use of Egypt’s natural gas infrastructure and studying the possibility of linking it to gas discoveries in Cyprus.
The MoU aims to strengthen cooperation between Egypt and the two companies, building on Egypt’s position as a regional energy hub. It also seeks to make use of Egypt’s advanced gas infrastructure, particularly its natural gas liquefaction plants and re-export facilities, while studying the potential connection to Cypriot gas discoveries.
The agreement is expected to help maximize the economic value of gas resources and support regional integration in the energy sector.
The MoU also includes establishing a commercial framework to achieve the highest possible value from natural gas resources in both Egypt and Cyprus. This would further strengthen Egypt’s role as a key hub for energy trade and circulation in the Eastern Mediterranean, while creating shared economic benefits for all parties.
The agreement comes as part of Egypt’s efforts to reinforce its position as a regional hub for natural gas trade in the Mediterranean region.
Prime Minister Mostafa Madbouly said cooperation with major international companies in the gas sector comes within the state’s broader strategy to maximize the economic value of Egypt’s existing assets and capabilities.
He added that Egypt’s natural gas infrastructure represents an important competitive advantage, enabling the country to receive production from Cypriot discoveries and re-export it through Egypt, strengthening its role as a regional energy hub in the Eastern Mediterranean and the wider region.
Minister of Petroleum and Mineral Resources Karim Badawi said the ministry has been working with ExxonMobil during the past period to explore cooperation mechanisms that would allow the company’s gas discoveries in Cyprus to be utilized through Egypt’s infrastructure, turning these discoveries into added economic value for all parties.
Badawi noted that ExxonMobil and its partner QatarEnergy operate in both Egypt and Cyprus, which supports opportunities to increase investments in Egypt in light of the success of the regional integration model.
He added that the MoU represents a new practical step toward studying the connection of ExxonMobil’s discoveries in Cyprus to Egypt. This follows successful cooperation with Eni, Total, Chevron, and Shell to link the Cronos and Aphrodite fields to Egypt’s infrastructure.
This reflects Egypt’s openness to further partnerships with Cyprus and international companies operating in both countries, with the aim of connecting Cypriot gas discoveries to Egypt’s liquefaction plants and re-exporting them to global markets, or maximizing their use locally.
Badawi said the cooperation will create mutual benefits for all parties. It will help Cyprus and its partners accelerate the development of gas discoveries and reduce production costs, while allowing Egypt to generate economic returns from the use of its infrastructure, whether through re-export or by using incoming gas volumes to expand value-added industries.
He pointed out that Egypt has a large industrial market, particularly in sectors such as petrochemicals and fertilizers.
